The sellers in Rancho Santa Fe have been holding strong, but there have been some inching closer to the exits, led by the banks.

First those on the outskirts:

Street Address Previous Sales Price/Date Current List Price % below last SP
7819 Cam De La Dora
$1,800,000 2/05
$1.1 to $1.4 SS
-38%
6973 Corte Lusso
$2,910,000 5/07
$1,757,500 REO
-40%
17466 Luna De Miel
$2,500,000 5/06
$1,480,000 REO
-41%
16501 Via Lago Azul
$5,750,000 5/07*
$2,495,000 REO
-57%*

*Amount of mortgage lent, later foreclosed

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“But Jim, those aren’t the Covenant!!! There’s a difference!!!!!!!!”

Oh really? The Covenant has its own cracks in the armor:

Street Address Previous Sales Price/Date Current List Price % below last SP
5840 Lago Lindo
$2,875,000 5/07
$2,500,000
-13%
6368 La Valle Plateada
$3,595,000 8/06
$2,250,000
-37%
17925 Avenida Alondra
$4,600,000 8/05
$2.18 to $2.38
-53%

There are 324 active listings of detached homes in 92067 and 92091, a number that has been growing all year.

Last month, TEN closed escrow!

Rancho Santa Fe sellers – you should lower your price!

(hat tip to Aztec)

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!

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